Nike names former executive Elliott Hill as CEO

Published On Sep 19, 2024, 5:01 PM

Nike has appointed Elliott Hill as its new CEO, who will take over on October 14, replacing John Donahoe. Hill, a former executive with over 30 years at Nike, was previously responsible for the company's consumer and marketplace division. His return comes amid concerns about slowing sales growth and stock declines, with Nike seeing a 10% increase in stock price in after-hours trading following the announcement. Analysts view his extensive experience and product knowledge as a potential catalyst for rejuvenating the brand.